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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: scion who wrote (18770)	9/10/2007 9:04:02 PM
From: scion	Read Replies (1) \| Respond to of 19428

Wagoner men to stand trial on 67 felony charges By Elizabeth Ridenour Assistant City Editor Published September 08, 2007 02:16 am - muskogeephoenix.com Two Wagoner men will face trial in the upcoming months after a judge determined Friday enough evidence against them existed to bind them over, said Doug Kirkley, assistant Wagoner County district attorney. Phillip Raglin, 22, and Joe Layne, 23, are charged with allegedly bilking more than 100 Wagoner County investors out of nearly $400,000. Raglin and Layne sold stock memberships in Raglin Industries, LLC, although the stock was not registered, and they weren’t licensed to sell stock, according to the Oklahoma Department of Securities. Layne waived his right to a preliminary hearing, and Raglin’s concluded Friday afternoon. At the close, three of the 70 felony counts against both men were dismissed. “On two, we found out the money was not exchanged in Wagoner County,” Kirkley said. The third count that was dropped was because the money was passed through another person and not the person listed in the charge. The Department of Securities alleges none of the funds received from investors were invested by Raglin or Layne, despite promises of 30 percent return on their investments. Instead, the money from the sale of memberships in Raglin Industries went for a lavish lifestyle for Raglin, including a new house, several Lexus vehicles, a Mercedes vehicle and other luxury items, Patty Labarthe of the Department of Securities, said previously. Investors testified Friday. “If you hear these people get up there (on the witness stand), it’s pretty compelling,” Kirkley said. “I’m very pleased.” Both men will be back in Wagoner County District Court in November for a district court arraignment. At that time, each will enter a formal plea to the charges. An exact date was not available Friday. muskogeephoenix.com